The largest cryptocurrency exchange in the world in terms of trading volume, Binance, is currently dealing with a number of legal issues in the US. According to a filing issued by the Securities and Change Fee in a federal court, as reported by Bloomberg, binance Holdings Ltd. and its CEO, changpeng zhao, have been accused of breaking US laws.
Zhao has acknowledged the situation without explicitly stating that everyone should “Ignore FUD, pretend information, and assaults.” On Twitter, he wrote:
Learn more about Binance.In response to the SEC lawsuit, the US calls for a Congressional motion to ensure regulatory readability.
The FTX event in November led to an increase in regulatory efforts against the cryptocurrency industry. Gensler has taken a very active approach to cryptocurrency. In addition, Kraken, another bitcoin exchange, resolved a legal dispute involving possible sanctions violations against Iran. Kraken consented to pay $362,000 to the Office of Foreign Assets Control (OFAC) within the US Treasury Division as part of the settlement.